Reliance Group successfully launches “The Reliance Education Plan”

NEW DELHI - June 15, 2015 - PRLog -- Reliance Life Insurance Company (RLIC), a part of Reliance Capital Ltd and Reliance Group, on Tuesday launched a new child insurance plan aimed at securing children’s future – the Reliance Education Plan.

A large part of the savings of an average Indian household goes towards education and career planning of their child. The Reliance Education Plan is a non-linked, non-participating, specialist child insurance plan that provides assured pay-outs for financing a child's education and securing their future. The Plan, a brainchild of Anil Ambani-headed Reliance Group, is valid for children between the age of 0-18 years and for parents between 20-50years.

It offers a choice of four maturity pay-out options that can be chosen based on the basis of the child's financial needs for education options. It can either be  amount at maturity - that can serve as seed capital for their children planning to start a business; or in instalments of two when opting for post-graduation; four instalments in case opting for a professional degree; or five instalments if they have planned for an integrated course, like graduation and post-graduation. The plan is available for policy term between 9 to 20 years and with payment options for five years, seven years, 10 years and for the entire term.

Reliance Education plan also provides flexible options in case of death benefit payouts - full lump sum amount payable on death or 50 per cent lump sum followed by annual income for 10 years. The plan also guarantees maturity pay-outs without any further premium payment, in case of any eventuality. These options can be selected at inception of the plan only.

According to Manoranjan Sahoo, Chief Agency Officer, Reliance Life Insurance, "The plan has built-in flexibility keeping in mind the different needs of every child and the career path they may choose. We believe it will serve as a valuable companion for any child to protect their future and handhold them in critical points of their career where they need financial support to fulfil their dreams. Reliance Education Plan is designed to help systematically save and secure a child's career plans and provide future income in accordance with chosen milestones."
Reference Link:-http://www.merinews.com/article/anil-ambanis-reliance-lau...